Commerce Exam Past Questions and Answers | JAMB, WAEC and NECO

Commerce is a structured system for exchanging goods between buyers and sellers. It involves studying the processes and activities related to buying and selling goods and services, particularly on a large scale.

• Question 1: The ECOBANK is the initiative of? Options:
  A) some well-meaning Nigerian shareholders
  B) the Federal Government of Nigeria
  C) West African states tto foster trade
  D) the Lagos State Governement to enhance capital mobilization
  Show Answer
  The correct answer is C .
• Question 2: A demonstration of social responsibility by a business is the payment of Options:
  A) taxes to government
  B) dividends to shareholders
  C) interests on loans
  D) premium on insurance
  Show Answer
  The correct answer is A .
• Question 3: The world tourism organization has it headquarters in Options:
  A) New York
  B) Madrid
  C) Paris
  D) London
  Show Answer
  The correct answer is B .
• Question 4: An action taken by a company outside its object clause is regarded as? Options:
  A) ultra vires
  B) a trespass
  C) uberrima fides
  D) caveat emptor
  Show Answer
  The correct answer is A .
• Question 5: A guarantee given by one person or party to another in which the integrity of the person is assured is? Options:
  A) fidelity
  B) term assurance
  C) subrogation
  D) indemnity
  Show Answer
  The correct answer is A .
• Question 6:

  Which of the following groups would advocate for the supply of constant electricity to households?

  Options:
  A) Consumer's association
  B) Credit union
  C) Employer's association
  D) Labour union
  Show Answer
  The correct answer is A .
• Question 7: A major function of a entrepreneur is? Options:
  A) decision-making
  B) encouraging competition
  C) human-resource traning
  D) motivating employees
  Show Answer
  The correct answer is A .
• Question 8: The scope of economic activities can be enlarged by Options:
  A) transportation and trading
  B) business and its promotion
  C) trading and aids to trade
  D) insurance and banking
  Show Answer
  The correct answer is C .
• Question 9: The main thrust of government policy of evolving good business environment in Nigeria is the need Options:
  A) to attract local and foreign investors
  B) for more export commodities
  C) for consumer oriented products
  D) to have viable local markets
  Show Answer
  The correct answer is A .
• Question 10: An oil exploration company is engaged in? Options:
  A) tertiary production
  B) constructive occupation
  C) extractive occupation
  D) secondary production
  Show Answer
  The correct answer is C .